Sales at Topshop’s flagship Oxford Street store are expected to hit £165m this year, its 10th under the ownership of Sir Philip Green.

When Green took control of Topshop parent Arcadia in October 2002, revenues at the store were £60m.

The rise is evidence of how the business has progressed under his control and Arcadia should be celebrated as a “great British success story”, he said.

Green said the sales increase was evidence, along with Arcadia’s track record on employment and dealings with suppliers, as well as fast-growing ecommerce and international operations, of how the retailer has thrived during his ownership and a rebuke to critics.

He said: “I remember a lot of people I think were concerned about what would be the transition from a public to a private company. A lot of those people are still in the team today.

“When I opened my first store in Conduit Street in 1979, I didn’t think the journey would take me to where we are in 2012 with 3,000 stores. It takes a lotta, lotta people to make that happen.

“It’s been a very fun journey. The spirit of what we wanted to achieve, we’ve achieved.

“We haven’t been scared to invest. We’ve carried on inventing and creating.”